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August 2014

Be Aware! Garbage Trucks Can Be Dangerous

What time is the garbage pick up on your street? It is super early in front of the office here and I always wonder whether the workers are alert enough to work. Yesterday, San Francisco garbage truck struck and killed a worker.  We used to hear such news about policemen and firemen… but garbage truck crew? And this is not the first time.  Condolences to friends and family and a reminder to all the employers to keep your Workers Compensation Insurance policy up to date. Our agents would be happy to speak with you and consult you workers compensation coverage… Read More »Be Aware! Garbage Trucks Can Be Dangerous

Zara Paid $$$$ to Recall its Holocaust-Inspired Striped T-Shirts

Product RecallAs you have probably heard Zara was “caught” selling Holocaust-Inspired Striped T-Shirts. This is not the first time Zara has came up with a “designer” product like that. Of course, Zara has apologized and quickly recalled the products.

Too bad for Zara, because as with any product recall, there is a huge cost $$$$ to recall the products from the shelves.
Most likely they have a Product Recall Insurance in place which has saved them.. but what if they wouldn’t have it?Read More »Zara Paid $$$$ to Recall its Holocaust-Inspired Striped T-Shirts

Independent Contractor vs. Employee

Independent Contractor vs. Employee What is Your Workers’ Comp Liability? The question of whether a worker is an independent contractor or an employee is not easily answered. Merely agreeing with someone on independent contractor status does not make it so. Also, California (among other U.S. states) with workers’ compensation laws relating to employee versus contractor status, are different from the laws applied to this status question by other states and federal agencies. Contrary to what you might think, the mere existence of a written employment contract or a lease will not establish an independent contractor relationship. For example, suppose you… Read More »Independent Contractor vs. Employee

Study: Opioid-Related Deaths Cut by 25% in Medical Marijuana States

Medical Marijuana InsuranceOpioid-Related Deaths Cut by 25% in Medical Marijuana States according to a new multi-institutional study, published in JAMA Internal Medicine and led by researchers at the Perelman School of Medicine at the University of Pennsylvania, which examined the rate of deaths caused by opioid overdoses between 1999 and 2010. Results reveal that on average, the 13 states allowing the use of medical marijuana had a 24.8 percent lower annual opioid overdose mortality rate after the laws were enacted than states without the laws, indicating that the alternative treatment may be safer for patients suffering from chronic pain related to cancer and other conditions.

Opioid analgesics, such as OxyContin, Percocet and Vicodin, are prescribed for moderate to severe pain, and work by suppressing a person’s perception of pain. Approximately 60 percent of all deaths resulting from opioid analgesic overdoses occur in patients who have legitimate prescriptions. Additionally, the proportion of patients in the United States who are prescribed opioids for non-cancer pain has almost doubled over the past decade, indicating the need to do a more focused examination on the safety and efficacy of these and other treatment options. In states allowing the use of medical cannabis, the drugs may be prescribed as an alternative to opioids.
Read More »Study: Opioid-Related Deaths Cut by 25% in Medical Marijuana States

Earthquake at night? Relief to the employer!

Photo by @NBCNewsPictures
Photo by @NBCNewsPictures

6.1 earthquake this Sunday night has awaken Bay Area at 3:20AM. Some of the people got injured and have been hospitalized.  

Had the quake hit during the day when most businesses are open the employees could have been injured at work and the employers could have been responsible for their injuries. There is no legal precedent as to whether workers compensation insurance would cover those injuries resulted from the quake, however, it is quite likely.Read More »Earthquake at night? Relief to the employer!

Insurance for Transportation Company

Insurance for Transportation CompanyGeneral Market Conditions – Primary Auto Liability

Due to capacity and decent loss history, the hard market that began in late 2012 is beginning to relax on moderate to good fleet accounts. However, carriers who dropped rates to target the most “vanilla” auto risks seem to have little interest in small fleet placements, distressed risks, and high hazard industry segments (such as energy).This means a continued trend of conservative risk selection as well as slow, but incremental rate increases for these types of accounts.

As a result, fleet submissions are flooding the growing marketplace in an effort to ensure the best pricing and terms available. Non-fleet risks are also being shopped due to the number of players who have exited the market or changed their appetite. This changing landscape provides opportunities to specialized carriers who have a clear target appetite, a proven history of writing transportation business, and consistency in handling claims and underwriting for auto risks.

Marketplace volatility continues in locations where a number of carriers are pulling out or restricting their appetite (Florida, Texas, and Louisiana specifically), as well in trucking niches like energy/tracking exposures, of which markets are leery. Additional factors include the nationwide driver shortage, further development of the Safety Measurement System (SMS) methodology, and the increased adoption of Central Analysis Bureau (CAB) in underwriting risks. The bottom line is commercial auto risks are being scrutinized and heavily underwritten, with every detail contemplated to help insurance companies improve underwriting results.
Read More »Insurance for Transportation Company